*By Michael Teich*
The NBA is continuing its push into the sports betting market. On Friday, the league announced on Cheddar that it inked a deal with UK-based Bet365, bringing its total partnerships with sports betting operators to five.
"Their brand is huge internationally," Kaufman-Ross told Cheddar. "They're one of the biggest players throughout Europe and other parts of the world."
The deal with Bet365 follows the same framework as its previous deals with MGM, FanDuel, FOX Bet, and William Hill. Each of these operators has the right to use official NBA data, utilize marks and logos to create a more authentic product, and will be promoted from NBA.com.
The NBA has been quick to embrace legalized sports betting after the U.S. Supreme Court struck down the federal ban in May 2018. It became the first major U.S. sports league to partner with a sportsbook operator after signing a deal with MGM in July 2018. The NBA monetizes these partnerships in a number of ways.
"In some of our deals, yes we get a royalty on the betting volume," Kaufman-Ross said. "In others, it's more like a flat fee, or a per state fee."
Currently, thirteen states have up-and-running legalized sports betting. Only four of those have true mobile betting. Five more states, plus Washington, D.C., have approved the practice, but sports betting in those regions is not yet operational. The U.S. has handled a total of $12.4 billion in sports bets since June of last year, and the legalization by more states will fuel growth even more, said Kaufman-Ross.
"There's a lot of growth that we think is going to come when new states come online and new states pass mobile betting. And I think what'll be really interesting is that what we've seen thus far, is once a state does pass a law with true mobile betting, it happens very quickly."
Eric Mitchell, sports analyst and co-founder & head of media relations at Lifeflip Media joins Cheddar News to discuss how covid-19 is impacting pro sports.
Brandon Marcello, National College Football Reporter for 247Sports, breaks down each of the two semifinal matchups and explains why the smart money is on the two SEC teams.
Sponsored by BetMGM
Mark Drumheller, betting analyst for Yahoo Sportsbook and The Sharp App, dives into an icy matchup between the Vikings and Packers, as well as other must-watch games including a potential trap in Baltimore.
Sponsored by BetMGM
Trysta Krick, Host of 'BetMGM Tonight' helps clear up a very crowded playoff picture by making selections for Week 17's top games while pointing to to an AFC West matchup for her lock of the week.
Sponsored by BetMGM
Trysta Krick and Mark Drumheller give viewers their winning picks ahead of Week 17 of the NFL season, while Brandon Marcello dissects each of the College Football Playoff semifinal matchups.
Sponsored by BetMGM
The National Women's Soccer League is partnering with Voyager Digital as its first-ever cryptocurrency brokerage in a multi-year deal. Marla Messing, interim CEO of the NWSL, and Steve Ehrlich, CEO of Voyager Digital, joined Cheddar to discuss benefitting the league and educating players and fans as a way of democratizing cryptocurrency. Messing explained that the players themselves will own half the assets as part of how the deal is structured. "My hope is, just in terms of the expectations of crypto over the long term, that I hope a lot of them are able to just let it sit there," she said. "And that one day this will be a nice retirement account for them."
